Iona Napier
BRITS are cashing in as holiday costs plummet due to the strength of the pound.
Today it was reported that Sterling has risen 0.45% to hit €1.40 for the first time since the end of 2007.
Two years ago, the average British holidaymaker would spend £628.51 whilst on holiday, but now they could spend half of this with the same spending power.
Travel money business Centrrip also revealed that Sterling has seen a 107.3% increase against the Russian Rouble.
Sterling has increased in value against 14 other major currencies, rising in value between 2.25% and 107%.
Hooray, now everyone can come and buy more illegal Spanish houses.
Well said Fred!
Just a minute – if Sterling can buy twice as much now compared to 2 years ago then that means that Sterling has doubled in value against the Euro and that prices in Spain have been static – err, err, err.
Some peculiar figures in this article but as a person who has a CDS property on the market, for more than twelve months, in euros, this increasing rate is a worry. On the positive side it should make the selling price more attractive to UK buyers, but there won’t be any discounts!
What a stupid comment in the report to say sterling has risen 107.3% against the Russian rouble, when in fact the rouble has crashed against all countries other than obscure tin-pot ones. Seems a case of bad journalism there.
Let’s all holiday in Russia then.
UUURRGGGHH! ‘orrible lot
What percentage of houses ARE illegal?
Funny how even the great pound to euro rate at the moment can be bashed by the usual naysayers on here – so glad I don’t visit this site as much anymore
We all wish you did’nt visit at all – abusive trolls are never welcome. BTW are they still shouting at you in the street.
Booming pound? More like a collapsing Euro…
The rise in sterling’s value is good news especially for British expat pensioners. Bad news for those who are selling their Spanish property & returning to the UK.
Good for my holidays this year, I will probably have a few jobs carried out as well while the exchange rate is low but if you are selling and taking the money back to the UK then it is just another large cut in value. You would not want to leave too much money in a Spanish bank either…
5 reasons for the Euro to go lower:
– ongoing quantitative easing until 2017
– ECB stated desire for the Euro to go lower to stimulate the Eurozone
– Greece issues kick off again in a couple of months once the next agreement comes due
– UK referendum on EU membership on the horizon
– US Fed under pressure to raise US interest rates
Can’t think of any reasons the Euro will get stronger, but if anyone knows any, would be interested.
So it means that Euro asset is likely to fall further in Pound or USD terms between now and 2017. (might want to re-think that discount !)